News today from Kodak

[benjiboy]

More like they moved the chairs to the Lusitania.

No, the Titanic sank because of it'screw's incompetence in not seeing clear and present danger of a hazard in the form of an iceberg, the Lusitania was sunk by an external source beyond it's control when it was torpedoed by a U Boat

 

[wblynch]

No, the Titanic sank because of it'screw's incompetence in not seeing clear and present danger of a hazard in the form of an iceberg, the Lusitania was sunk by an external source beyond it's control when it was torpedoed by a U Boat

Exactly. Competent Navigators and Crew, dodging the external forces trying to destroy the ship.

 

[Ken Nadvornick]

They have taken the business out from under a management structure that was actively trying to kill it and given it new ownership that has a vital interest in its continued viability. It no longer has to support the rotting carcass of an organization that thinks it still belongs in the Dow index. They have removed all the burden of debt and past mistakes. Marketing and Sales professionalism can go a long way to turning a business around and building success. They have a lot of hard work ahead of them, but I am very encouraged that the "right sized" organization for the niche market will finally be able to create itself out of the disaster that it was.

It scares me that if they do manage to survive bankruptcy Perez will still crucially control the actual manufacturing of film. How long before poor decision making again results in a new crisis where he again needs to "impress" the analysts on Wall Street? And in his mind perhaps the way to do that will be to again start blowing up film buildings with the media cameras rolling?

And what if the building he chooses this time is the last Kodak coating line?

Sounds silly? Just look back at the last five or so years...

Ken

 

[benjiboy]

Exactly. Competent Navigators and Crew, dodging the external forces trying to destroy the ship.

No, the U Boat sank the Lusitania

 

[Paul Howell]

It scares me that if they do manage to survive bankruptcy Perez will still crucially control the actual manufacturing of film. How long before poor decision making again results in a new crisis where he again needs to "impress" the analysts on Wall Street? And in his mind perhaps the way to do that will be to again start blowing up film buildings with the media cameras rolling?

And what if the building he chooses this time is the last Kodak coating line?

Sounds silly? Just look back at the last five or so years...

Ken

Although we dont know all of the details, from I understand Kodak will not own the plant, the new owners will. I hope new Kodak will be able to maintain quaility and price and expand the product line.

 

[Ken Nadvornick]

I hope you're right. I really, really do...

Ken

 

[PKM-25]

It scares me that if they do manage to survive bankruptcy Perez will still crucially control the actual manufacturing of film. How long before poor decision making again results in a new crisis where he again needs to "impress" the analysts on Wall Street? And in his mind perhaps the way to do that will be to again start blowing up film buildings with the media cameras rolling?

And what if the building he chooses this time is the last Kodak coating line?

Sounds silly? Just look back at the last five or so years...

Ken

This is still in it's infancy Ken, so the details of who gets to tell whom what Building 38 "charges" KPP for making film is up in the air. I also think it is somewhat sheltered under the MP contracts ( 2015 ) for the moment as that agreement helped to relieve Kodak of some of the rebates owed to the buyers of MP products.

But yeah, how much influence or power KPP has over EK proper in terms of the actual coating of film products remains to be seen.

I am optimistic...

 

[pbromaghin]

It scares me that if they do manage to survive bankruptcy Perez will still crucially control the actual manufacturing of film. How long before poor decision making again results in a new crisis where he again needs to "impress" the analysts on Wall Street? And in his mind perhaps the way to do that will be to again start blowing up film buildings with the media cameras rolling?

And what if the building he chooses this time is the last Kodak coating line?

Sounds silly? Just look back at the last five or so years...

Ken

Not silly at all. But the purchase agreement must have very solid clauses covering the continued proper operation of the coating machine and building. The UK government pension plan overseers had to approve this transaction, too. I can't imagine both the Pension Plan and the government would let something like that go unnoticed.

 

[Photo Engineer]

Remember the Maine!

 

[PKM-25]

KPP chair Steven Ross weighs in via the local Dead Link Removed.

Ron, what is Building 205?

 

[Photo Engineer]

Dan, 205 is one of the large buildings along Mt. Read Blvd. It is approached vie KP West or across a bridge from a parking lot on the west side of the Blvd.

IIRC, it was part of the distribution center and the engineering division. I used to go to meetings there with the engineers. They had a beautiful building with big conference rooms and lots of other facilities.

It is one of the westernmost parts of KPW.

PE

 

[Paul Howell]

How many coating sites does Kodak have, England, New York, and Colorado? Which will go the new Kodak and which will stay with old Kodak? Can all 3 coat film as well as paper?

 

[Christiaan Phleger]

The new owners would sell more Tri-X if it was cheaper. Plus-X as well.

 

[benjiboy]

The new owners would sell more Tri-X if it was cheaper. Plus-X as well.

The last thing Kodak need in their current dire financial situation is to sell their products at a minimal profit, which even if they did the market for these monochrome films are so small I.M.O. the difference reflected in their actual sales wouldn't be significant.

 

[wblynch]

Remember the Maine!

And it turned out ~that~ was an 'inside' job

* The Maine sank from an internal explosion but was assumed to be a deliberate torpedoing by the Spanish. Not the last time we started a war based on incomplete information *

 

[PKM-25]

The new owners would sell more Tri-X if it was cheaper. Plus-X as well.

How do you figure when it is cheaper than Ilford HP5 or Fuji Neopan 400? Also, you can get it rebranded as Arista Premium for less than $3 a roll for now. Considering how everything in life has gone up a *lot* more, I think film is still pretty cheap, especially when one considers the price of Silver Gelatin paper...

 

[lxdude]

For a little perspective: I'm looking at a B&H ad from November 1982.
Tri-X:
135-36, $2.19.
120, $1.75

From the US Consumer Price Index's inflation calculator:

$2.19 in 1982= $5.28 in 2013

$1.75 in 1982= $4.22 in 2013

 

[MattKing]

The link above from the Rochester paper leads you to a page that also includes this link: Dead Link Removed

This latter link makes it clear that Kodak has cancelled the tentative agreement with Brother for the scanner business - both the still film and the scanner business are going to the UK pension fund.

I know that I may be unreasonably optimistic, but I do think it's wonderful to hear "Kodak" management speak about long term growth and prosperity for film and photographic paper.

My next concern though - what are the other creditors going to end up with. Creditors like Champion Photochemistry.

 

[Prof_Pixel]

My next concern though - what are the other creditors going to end up with. Creditors like Champion Photochemistry.

Shares of 'new' Kodak stock.

 

[hoffy]

For a little perspective: I'm looking at a B&H ad from November 1982.
Tri-X:
135-36, $2.19.
120, $1.75

From the US Consumer Price Index's inflation calculator:

$2.19 in 1982= $5.28 in 2013

$1.75 in 1982= $4.22 in 2013

Very curious - so, we really have nothing to complain about!

 

[Photo Engineer]

Ahhh, Fred, my stock was bought high so here I am at about 30 cents / share.

Can anyone live with a loss like that?

PE

 

[Prof_Pixel]

Ron,

Your 'old' Kodak stock (if you have any left) is about to be worth $0 per share - not even 30 cents

 

[lxdude]

For a little perspective: I'm looking at a B&H ad from November 1982.
Tri-X:
135-36, $2.19.
120, $1.75

From the US Consumer Price Index's inflation calculator:

$2.19 in 1982= $5.28 in 2013

$1.75 in 1982= $4.22 in 2013

From B&H's website today:

TX 135-36, $4.29 ----equal to $1.78 in 1982.

TX 120, .....$4.95 ----equal to $2.06 in 1982.

 

[Photo Engineer]

Yeah, yeah, yeah Fred. What an I do about it?

PE

 

[alanrockwood]

Ron,

Your 'old' Kodak stock (if you have any left) is about to be worth $0 per share - not even 30 cents

Prof_Pixel is right. When the company emerges from bankruptcy the old shares will be cancelled and therefore be worthless, i.e. $0 per share. Better dump it now while you can get a few cents per share, or alternatively, request share certificates and save them as souvenirs to hang on the wall.